Cardiol Therapeutics (TSE:CRDL) Trading Up 7.9% - Here's What Happened

Key Points

• Stock jump: Cardiol Therapeutics shares rose 7.9% mid-day to C$2.06 (intraday high C$2.08) on ~273,362 shares traded, a 138% increase versus average volume, after previously closing at C$1.91.
• Financials: The company is still unprofitable (last quarter EPS C($0.07); analysts forecast -0.49 EPS for the year) with a market cap of C$230M, a negative P/E, and strong liquidity (current ratio 4.16, quick ratio 6.84).
• Business focus: Cardiol is a clinical-stage life sciences company developing CardiolRx, a cannabidiol oral solution aimed at reducing inflammasome-driven inflammation and fibrosis in heart diseases such as myocarditis, pericarditis and heart failure.

Cardiol Therapeutics Inc. (TSE:CRDL - Get Free Report)'s stock price was up 7.9% during mid-day trading on Friday . The company traded as high as C$2.08 and last traded at C$2.06. Approximately 273,362 shares traded hands during trading, an increase of 138% from the average daily volume of 114,866 shares. The stock had previously closed at C$1.91.

Cardiol Therapeutics Stock Up 7.9%

The stock has a 50 day moving average price of C$1.56 and a 200-day moving average price of C$1.48. The stock has a market capitalization of C$230.06 million, a P/E ratio of -5.28 and a beta of 0.10. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 6.84.

Cardiol Therapeutics (TSE:CRDL - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported C($0.07) earnings per share (EPS) for the quarter. As a group, research analysts expect that Cardiol Therapeutics Inc. will post -0.49 EPS for the current fiscal year.

About Cardiol Therapeutics

Cardiol Therapeutics Inc NASDAQ: CRDL TSX: CRDL is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company's lead drug candidate, CardiolRxTM (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis, and heart failure.

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